SACRAMENTO – California Attorney General Xavier Becerra today announced a $220 million multistate settlement with Deutsche Bank for fraudulent conduct involving the manipulation of the London Interbank Offered Rate (LIBOR). LIBOR is the rate at which banks lend money to one another. It is a key financial tool that determines interest rates for many financing mechanisms, including government and corporate bonds. Deutsche Bank colluded with other banks to skew borrowing rates in its favor, illegally profiting on contracts with municipalities linked to LIBOR. This unlawful strategy resulted in a sharp increase in profits for Deutsche Bank at the expense of government entities and non-profit organizations in California and throughout the country. Through the settlement announced today, California governmental and non-profit entities that invested with Deutsche Bank will receive approximately $29 million.
Month: October 2017
A real estate investor pleaded guilty for his role in a conspiracy to rig bids at public real estate foreclosure auctions in Northern California, the Department of Justice announced.
SANTA ANA, California – A Placentia man who participated in a scheme that filed fraudulent tax returns with the Internal Revenue Service and sought over $800,000 in refunds based on non-existent employees at two shell companies has been sentenced to over five years in federal prison.
SANTA ANA, California – Two California men have been sentenced to multi-year federal prison terms after being convicted of federal wire fraud charges for participating in a “high-yield prime bank” scam that stole more than $5 million from victims across the nation who were promised huge returns on investments, purportedly with little or no risk.
The Department of Justice today filed a Statement of Interest in Shaw v. Burke at the request of the Department of Education. The plaintiff, Kevin Shaw, is a student at Los Angeles Pierce College, a public college within the Los Angeles Community College District. He is challenging the constitutionality of a Pierce College policy that effectively bans all free expression on campus outside a 616 square-foot “Free Speech Area.”
A 32-year-old man entered a plea today for attacking police officers during an investigation of a possible stolen vehicle near the University of Southern California, the Los Angeles County District Attorney’s Office announced.
Two gang members and a woman were ordered today to stand trial for a decades-old arson fire at a Westlake apartment building, killing 10 people, seven of whom were children, the Los Angeles County District Attorney’s Office announced
LOS ANGELES – Operation Jungle Book, a law enforcement initiative led by the United States Fish and Wildlife Service that targeted wildlife smuggling, has resulted in federal criminal charges against 16 defendants who allegedly participated in the illegal importation and/or transportation of numerous animal species – including a tiger, monitor lizards, cobras, Asian “lucky” fish, turtles, exotic songbirds and several coral species.
SANTA ANA, Calif. – A felon from Fresno was sentenced to three years and eight months in state prison today for pimping a young woman and illegally possessing a loaded firearm.
SANTA ANA, Calif. – A man was convicted and sentenced yesterday to 15 years to life in state prison for the 1986 cold case murder of a business associate in Orange County.